(TheNewswire)
Vancouver, BC - TheNewswire - Aug. 16, 2023 - Guyana Goldstrike Inc. (the “ Company ” or “ Goldstrike ”) (TSXV:GYA) , dba Copper-X Mining Inc., is pleased to announce thatexploration has commenced at the Jupiter Copper Project (the“ Jupiter Project ”) for the purpose of completing a National Instrument 43-101 TechnicalReport .
A team, inclusive of independent Qualified Person ,has arrived on-site at the Jupiter Project located 90km south ofAntofagasta, Chile. Initial exploration will include geochemicalsampling and geological mapping. Focus will be on areas ofhistorical sampling of known copper mineralisation in rock outcrop,primarily follow-up exploration to work completed in 2021( Petrogaia ). Initial assays will be delivered to the lab as early asnext week. Desktop review of historical geological and geo-technicalwork has commenced.
Jupiter Copper Project
Multiple historic rock samples assayed copper values inexcess of 2.0% copper per tonne (see Fig. 1 ). The mainarea of focus surrounds the north central area of samples 5 and 6which is correlated to the edge of a magnetometer low ( see press release dated August2 ). This will be the main focus of explorationmoving forward with the goal of identifying drill pad locations. Theongoing exploration program is planned to include:
1. drone based mapping;
2. geotechnical sampling ofapproximately 300 samples;
3. detailed geological mapping ofprimary zones of interest;
4. to be determined, satelliteremote sensing study inclusive of:
a. orthographical photo
b. detailed topography
c. infrared reflectivity imagedetailing soil, clay, and rock zones;
5. identification of 8-10 drillsites for follow-up drilling (no permit require under 20 drill padsand 20,000 meters).
Fig. 1 – Property Map
Project Highlights
-
Property size of 4,000 Hectares
-
Targets 1 2 host copper in proximity to historicworkings and mine developments.
-
Target 1 has evidence of copper mineralization in acorridor of 3 x 2 kms.
-
Airborne MAG shows that mineralization is consistentwith low mag, indicating several untested areas.
-
The abundant microdioritic dykes are interpreted to befeeders of high-grade copper mineralization in both gabbro andandesites.
-
Numerous targets are interpreted to be present inproximity to contact zones of mafic intrusives and La Negra Fmvolcanics – favourable for hosting hydrothermal solutions rich incopper.
-
The main alteration associated with Cu mineralizationis albite – epidote – magnetite.
-
Mineralization is observed as disseminations and inquartz-albite-epidote veins in fractures as oxide Cu (atacamite –chrysocolla – malachite black oxides).
Project Description
The Jupiter project is accessible by paved road 90kmssouth of Antofagasta city, the major mining hub in northern Chile,with access to renewable power and adjacent to the ocean to secureaccess to sea water. The underexplored Jurassic Volcanic/IOCG Belt ishost to world class mine operations including Michilla,Antofagasta’s Antucoya, Mantos Copper’s Mantoverde and MantosBlanco, Teck’s Carmen de Andacollo, Lundin’s Candelaria, AngloAmerican’s El Soldado; and major projects including Marimaca CopperCorp’s Marimaca, Hot Chili’s Productora-Cortadera and Capstone’sSanto Domingo.
Fig. 2 - Chile Coastal Belt
QualifiedPerson
Andris Kikauka (P.Geo) is a Qualified Person inaccordance with National Instrument43-101 – Standards of Disclosure for Mineral Projects , and has reviewed and approved the scientific and technicalcontent of this news release.
On behalf of the Board of Directors,
GUYANA GOLDSTRIKE INC. / COPPER-XMINING INC.
Peter Berdusco
President/CEO
877 704 1119
info@copper-x.com
copper-x.com
The TSX Venture Exchange has in noway passed upon the merits of the proposed Transaction and has neitherapproved nor disapproved the contents of this press release. Neither the TSX Venture Exchangenor its Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When used in this news release,the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule” and other similar words or expressions identifyforward-looking statements or information. These forward-lookingstatements or information may relate to the intended development ofthe Project, and other factors or information. Such statementsrepresent the Company’s current views with respect to future eventsand are necessarily based upon a number of assumptions and estimatesthat, while considered reasonable by the Company, are inherentlysubject to significant business, economic, competitive, political andsocial risks, contingencies and uncertainties. Many factors, bothknown and unknown, could cause results, performance, or achievementsto be materially different from the results, performance orachievements that are or may be expressed or implied by suchforward-looking statements. The Company does not intend, and doesnot assume any obligation, to update these forward-looking statementsor information to reflect changes in assumptions or changes incircumstances or any other events affections such statements and information other than asrequired by applicable laws, rules and regulations.
Copyright (c) 2023 TheNewswire - All rights reserved.